Annonaceae is a large, prominent family within the Magnoliales order, containing many genera. Among these, the genus Annona holds significance for its substantial diversity and traditional medicinal value. Annona squamosa L. is one of the most common species of this genus. This tropical species, commonly known as the sugar apple, exhibits distinct morphological features. Phytochemical investigations of A. squamosa revealed the presence of acetogenins, alkaloids, diterpenes, and cyclopeptides in various plant parts. Acetogenins, found mainly in seeds and representing the major active constituents, possess distinctive structures and biological activities. Alkaloids, predominantly isolated from leaves, represent the second major class of A. squamosa active constituents. A. squamosa exhibits a wide array of pharmacological activities encompassing anti-tumor, anti-inflammatory, antioxidant, antidiabetic, antimicrobial, antiviral, immunomodulatory, and wound-healing properties. This comprehensive review highlights the botanical characteristics, phytochemical composition, and diverse pharmacological activities of A. squamosa and aims to be a guide for further research on A. squamosa.